U.S. DOLLAR INDEX

February will be an important month for currencies and especially for the U.S. dollar. U.S. dollar index rebounded from the lower boundary of its 2 year-long consolidation for the 4th time and now the index is challenging the minor resistance at 81.50 levels. Similar breakouts resulted in a strong U.S. dollar in the first half of 2012 and in the beginning of 2013. Breakout above 81.50 can push the U.S. dollar index towards 84-85 area in the following months. Strong medium-term support remains at 79.5.

U.S. Dollar Index (Weekly scale)

U.S. Dollar Index (Daily scale)